The market is roughly flat ahead of January housing data and testimony from Federal Reserve chairman Ben Bernanke. 90 minutes before the opening bell, Dow futures are up 4 points to 10,303 and S&P 500 futures are flat at 1,097.25. In commodities, WTI crude oil is trading 29 cents lower to $78.57 per barrel and Spot Gold is down $9.76 to $1,093.64. Meantime, the US$ index is weaker, the euro is edging higher after industrial orders rose, and other major currencies are mixed. Key Events Today: 10:00 ― New Home Sales have been difficult to track recently because of the homeowner tax credit, which was supposed to end in November but was then extended into April 2010. In December the index dropped 7.6%, pushing the annual pace of sales down to 342,000. With homebuyers back in the market to take...(read more)

Comments are closed.